National Storage Mechanism | Additional information

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This announcement is an advertisement and does not constitute a prospectus for the purposes of EU Regulation 2017/1129 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended (the 'UK Prospectus Regulation') and Part VI of the Financial Services and Markets Act 2000, as amended. Investors must subscribe for or purchase any shares referred to in this announcement only on the basis of information contained in the prospectus published by Praetura Growth VCT plc on 14 June 2023 and made available to the public in accordance with the UK Prospectus Regulation (the 'Prospectus') and not in reliance on this announcement. Copies of the Prospectus may, subject to any applicable law, be obtained from the registered office of the Company and on the Company's website at www.praeturainvestments.com, subject to certain access restrictions. This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase, investments of any description, or a recommendation regarding the issue or the provision of investment advice by any party.

15 June 2023

LEI: 894500SMOMUFH0UZXT46

Praetura Growth VCT plc
(the "Company" or "PGV")

Intention to Float

Offer for Subscription to raise up to £10 million, together with an over-allotment facility to raise a further £10 million

The Company, a newly established VCT, announces its intention to float an initial public offering targeting gross proceeds of £10 million (the "Offer") through the issue of 10 million ordinary shares of 1 penny each (the "Ordinary Shares") by way of an offer for subscription. The Directors will have the option to utilise an over-allotment facility that will allow the Company to issue a further 10 million Ordinary Shares under the Offer.

The Offer will open on 14 June 2023 and may close at any time in the Directors' discretion thereafter but, in any event, not later than 3.00 p.m. on 3 April 2024, in the case of the 2023/2024 tax year, and 3.00 p.m. on 31 May 2024, in the case of the 2024/2025 tax year (unless the Offer is fully subscribed at an earlier date). The Company will apply for the Ordinary Shares issued, and to be issued, under the Offer to be listed on the Official List and to be admitted to trading on the London Stock Exchange's main market for listed securities.

The Directors and people associated with the Manager have undertaken to invest £1.02 million, in aggregate, under the Offer.

Further information on the Offer and copies of the Prospectus can be found on the Company's website at www.praeturainvestments.com.

The Manager

The Company will be managed by Praetura Ventures Limited ("Praetura Ventures"). Praetura Ventures is the venture capital and EIS business associated with the wider Praetura Group, a Manchester based venture capital investor and small business lender.

The Praetura Group has been supporting small and medium enterprises since 2011, raising capital and investing in the early stages of business lifecycles. The Praetura Group currently has assets under management of over £544 million, which includes Praetura Ventures with current assets under management of £213 million.

Praetura Ventures launched its EIS Growth Fund in 2019. Since launch the fund has raised over £128 million and grown its current portfolio to 36 businesses, 21 of which are based in the North of England.

Praetura Ventures' ability to find and back exceptional businesses in the North has helped it attract £40 million over the last 24 months from two institutional funds, the Regional Angels Programme from British Business Investments and the GMC Life Sciences Fund from the Greater Manchester Combined Authority (GMCA), Cheshire and Warrington LEP and Alderley Park Holdings Limited.

The Investment Opportunity

The objective of the Company is to rise to the UK Government's levelling up agenda by providing growth funding to scalable businesses predominantly based in the North of England. The Company will invest in growth companies that require scale-up capital across a range of sectors including technology and healthcare but focused predominantly in the North of England.

The technology and life sciences sectors in the North of England have grown rapidly over the last decade and continue to gain recognition on a global stage. Manchester is at the heart of this momentum, being home to over 10,000 technology businesses and now boasting a £5 billion digital economy. Recently dubbed the 'UKs Top Digital Tech City', it is celebrated for its leading position in established and emerging digital sectors, having produced break-out businesses such as AO Group, ANS, AutoTrader, Matillion, Peak and TalkTalk.

Closely connected to other flourishing economic ecosystems, Manchester is flanked by Liverpool and Leeds both of which have pioneered their own technology sector success stories in recent years. Leeds is home to the UK's largest technology event, Leeds Digital Festival, and has established a thriving technology industry with strong sub sectors in fintech, health and gaming. Liverpool's digital economy has also made advancements in both health and creative technology recently. These accomplishments have largely been due to a number of 'start up friendly' characteristics found in the North including proximity to large corporate buyers, low operating costs, extensive transport links, robust infrastructure and access to world-class talent created by highly rated local universities.

Due to the region's growing technology economy and funding opportunities, Praetura Ventures' existing investment funds carry a bias towards opportunities in the North, targeting a two-thirds allocation-to-deals ratio in favour of deals based outside of London. The Directors believe that this strategy will provide investors with access to the best of Northern founders at more attractive valuations for growth opportunities than are available in London and the South-East of England, where VCT investments are traditionally focussed and where competition between venture capital investors can create inflated valuations.

For further information:

Praetura Ventures

Sam McArthur

07740 175675

DISCLAIMER

This announcement is an advertisement and does not constitute a prospectus and investors must subscribe for or purchase any shares referred to in this announcement only on the basis of information contained in the Prospectus published by the Company on 14 June 2023 (and in any supplementary prospectus) and not in reliance on this announcement. Investors should read the Prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the Ordinary Shares. Approval of the Prospectus by the Financial Conduct Authority should not be understood as an endorsement of the Ordinary Shares. Copies of the Prospectus may, subject to any applicable law, be obtained from the registered office of the Company and will be made available for viewing at the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website. This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase investments of any description, a recommendation regarding the issue or the provision of investment advice by any party. No information set out in this announcement is intended to form the basis of any contract of sale, investment decision or any decision to purchase shares in the Company.

The value of shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested. Figures refer to past performance and past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.